State Codes and Statutes

State Codes and Statutes

Statutes > Vermont > Title-09 > Chapter-150 > 5601

§ 5601. Administration

(a) The commissioner shall administer this chapter.

(b) It is unlawful for the commissioner or an officer, employee, or designee of the commissioner to use for personal benefit or the benefit of others records or other information obtained by or filed with the commissioner that are not public under subsection 5607(b) of this chapter. This chapter does not authorize the commissioner or an officer, employee, or designee of the commissioner to disclose the record or information, except in accordance with section 5602, subsection 5607(c), or section 5608 of this chapter.

(c) This chapter does not create or diminish a privilege or exemption that exists at common law, by statute or rule, or otherwise.

(d) The commissioner may develop and implement investor education initiatives to inform the public about investing in securities, with particular emphasis on the prevention and detection of securities fraud. In developing and implementing these initiatives, the commissioner may collaborate with public and nonprofit organizations with an interest in investor education. The commissioner may accept a grant or donation from a person that is not affiliated with the securities industry or from a nonprofit organization, regardless of whether the organization is affiliated with the securities industry, to develop and implement investor education initiatives. This subsection does not authorize the commissioner to require participation or monetary contributions of a registrant in an investor education program.

(e) The securities investor education and training special fund, pursuant to subchapter 5 of chapter 7 of Title 32 is created to provide funds for the purposes specified in subsection (d) of this section. All monies received by the state by reason of grant or donation for investor education initiatives pursuant to subsection (d) of this section shall be deposited into the securities investor education special fund. Interest earned on the fund shall be retained in the fund. (Added 2005, No. 11, § 1, eff. July 1, 2006.)